The formal definition, according to Wikipedia, is "an expression consisting of variables and coefficients which only employs the operations of addition, subtraction, multiplication, and non-negative integer exponents."
Ok, that probably didn't help, did it? What does it really mean? Well, a polynomial is something that looks like this:
x2+7x−9It contains variables (x), it uses multiplication, subtraction, and addition, and has a positive, integer exponent (the x2 term).